Philips expands in Germany and invests in medical technology

The investment will be used to build a new line for X-ray source assembly and of a generator for Philips new 256-line CAT scanner Brilliance iCT. The rest will be used to build a ”Returns & Recycling”-Centre. The recycling of used products will reduce production and transport costs for Philips and its suppliers. The company can also reduce its CO2 emissions by up to 1200 tons per year. Philips growth rate in Germany was 5%, a lot higher than the market average. Turnover was € 686,77 billion in 2007. (2006: € 1,686 billion) Export sales increase by 2% to € 1,67 billion, which was partially influenced by the weak Dollar. Additionally has the so-called ”Deficit Reduction Act” (DRA), which is supposed to lower health-care costs in the US, a negative impact on the export of medical technology. The total turnover for Philips Deutschland reached € 3,434 billion last year. The number of staff was reduced from 7,200 to 6,900, which was due to the outsourcing of divisions.